Students who are U.S. citizens or permanent residents and take the PSAT in the third year of their high school career are considered for a National Merit Scholarship. Finalists receive $2,500 awards, and could be eligible for other awards sponsored by corporations or colleges.
The Telluride Association offers scholarships for high-scoring PSAT test-takers in the humanities. The nature of the scholarships vary from year to year.
The College Board administers the National Hispanic Recognition Program for students who are of Hispanic or Latino descent. There is no financial award, but the NHRP recognizes high-scoring students and sends notification to colleges and universities.